Morgan Pryce completes deal in Fitzrovia on behalf of European Advertising Group

Morgan Pryce has recently completed a deal to acquire prime Fitzrovia space on behalf of a European Advertising company, their first UK-based office.

With the market shifting in favour of tenants, incentive periods are moving out in core areas such as the City and Midtown. However, landlords are still demanding high rents in the West End market, an area typically well-placed to withstand market downturns. Nevertheless, Morgan Pryce was able to negotiate a strong financial deal on behalf of their client, on a newly-refurbished, CAT A specification office floor in the heart of Fitzrovia, with eight months rent free and a £7.50 per sq ft reduction on the quoted rent agreed on a five-year term.

Eugene O’Sullivan, Managing Director at the firm, says: “The market is the healthiest it has been for tenants in a few years. We are acquiring more and more incentives for our clients across central London, and now is definitely a good time to be looking for new office space. Areas such as the City are offering great value, however we are able to achieve strong financial packages across the capital.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants